Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $14.4 million, representing an 8% growth from Q1 2024 despite macroeconomic headwinds [7] - Adjusted gross margin for the quarter was 43.8%, down from 49.8% in Q1 2024, impacted by the discontinuation of non-strategic assets [7] - Operating expenses (OpEx), net of one-time expenses, declined to $14 million in Q1 2025 from $25.3 million in Q1 2024, reflecting a focus on cost controls and operational efficiencies [7] - Adjusted EBITDA loss was $9 million in Q1 2025, compared to a loss of $13.6 million in Q1 2024 [8] - As of March 31, cash, cash equivalents, and investable securities totaled $840 million, excluding recent acquisitions [8] Business Line Data and Key Metrics Changes - The core business revenue was just under $15 million in Q1 2025, while Markforged generated just under $17 million [12] - The company discontinued several products, including Admitec, DeepCube, Fabrica, and Formatec, expected to save around $20 million in annual operating expenses [9][10] Market Data and Key Metrics Changes - The company is focused on integrating Markforged and optimizing operations, with a strategic emphasis on high-margin, high-performance parts manufacturing [11][15] Company Strategy and Development Direction - The company is pursuing product rationalization and operating model optimization to ensure competitive advantages and high margins [11][13] - The integration of Markforged is seen as a key opportunity to enhance the company's offerings in digital manufacturing [14][15] - The management is committed to creating shareholder value through responsible growth and innovation [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic challenges but expressed confidence in the strategic decisions made to enhance operational efficiency and shareholder value [7][16] - The company is currently evaluating strategic alternatives for Desktop Metal, with a focus on disciplined expense management and cash burn control [19][20] Other Important Information - The company emphasized the importance of a flatter organizational structure to foster innovation and speed in delivering value [11][14] Q&A Session Summary Question: Inquiry about Desktop Metal's convertible and responsibilities post-acquisition - Management confirmed that obligations to Desktop Metal are being met and that its management operates independently [18] Question: Request for insights on cost structure and cash burn rate for the combined business model - Management refrained from providing specific guidance but assured that they are disciplined in managing expenses and cash burn [19][20]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $14.4 million, representing an 8% growth from Q1 2024 despite macroeconomic headwinds [7] - Adjusted gross margin for the quarter was 43.8%, down from 49.8% in Q1 2024, impacted by the discontinuation of non-strategic assets [7] - Operating expenses (OpEx), net of one-time expenses, declined to $14 million in Q1 2025 from $25.3 million in Q1 2024, reflecting a focus on cost controls and operational efficiencies [7] - Adjusted EBITDA loss was $9 million in Q1 2025, improved from a loss of $13.6 million in Q1 2024 [8] - As of March 31, cash, cash equivalents, and investable securities totaled $840 million, excluding recent acquisitions [8] Business Line Data and Key Metrics Changes - The core business revenue was just under $15 million in Q1 2025, while Markforged generated just under $17 million [12] - The company has discontinued several products, including Admitec, DeepCube, Fabrica, and Formatec, which were not delivering sufficient ROI [9] Market Data and Key Metrics Changes - The company is focused on integrating Markforged and optimizing its operations, which includes product rationalization and reducing operating expenses [14][15] Company Strategy and Development Direction - The company aims to create shareholder value through strategic integration and operational optimization, ensuring competitive advantages and high margins [11][14] - The focus is on manufacturing high-value, high-performance parts at scale rather than experimental designs [11] - The company is committed to a flatter organizational structure with more doers and fewer managers to enhance innovation and value delivery [11][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic decisions made to address business challenges and create shareholder value [16] - The company is evaluating strategic alternatives for Desktop Metal while focusing on the integration of Markforged [21] Other Important Information - The company is running product rationalization and operating model optimization processes to ensure high-margin solutions [13] - The management team is disciplined in managing expenses and cash burn rates during the integration process [21][22] Q&A Session Summary Question: Inquiry about Desktop Metal's convertible and responsibilities post-acquisition - Management stated that obligations to Desktop Metal are being met and that it is managed by independent parties [20] Question: Request for insights on cost structure and cash burn rate for the combined business model - Management indicated that they are not providing guidance at this time but are disciplined in managing expenses and cash burn [21][22]

Core Business Performance - The company reported core business revenue of $14.4 million for the first quarter of 2025, representing an 8% increase from $13.4 million in the same period last year [9] - Gross margin decreased to 41% from 46% year-over-year, while adjusted gross margin fell to 44% from 50% [9] - The adjusted EBITDA loss improved to $9.0 million from a loss of $13.6 million, marking a 33% year-over-year improvement [9] Financial Overview - The net loss for the first quarter of 2025 was $24.0 million, down from a loss of $35.0 million, indicating a 31% improvement year-over-year [9] - Total cash, cash equivalents, deposits, and investable securities amounted to $840 million as of March 31, 2025, down from $907 million year-over-year [9] - Research and development expenses decreased to $5.0 million from $9.1 million, while sales and marketing expenses fell to $5.5 million from $6.5 million [9][10] Strategic Initiatives - The company is targeting over $20 million in annualized operating cost savings starting from Q4 2025 through various measures, including discontinuation of underperforming product lines and targeted headcount reductions [5][10] - Following the acquisition of Markforged in April 2025, the company is focused on achieving operational synergies and aligning financial and operational standards [6] - The company launched new products, including FOX Ultra and PUMA Ultra, as part of its innovation strategy [10] Recent Developments - The company is undergoing a strategic assessment of Desktop Metal to address its liabilities and liquidity issues [10] - The board of directors has been strengthened with the addition of technology and growth experts to enhance corporate governance [10] - A conference call is scheduled to discuss financial results and strategic outlook, indicating ongoing communication with shareholders [12]

Core Insights - Nano Dimension Ltd. has appointed Andy Sriubas and Eileen Tanghal to its Board of Directors, marking a significant transition as the company moves from M&A integration to scaling its technology platform globally [1][2] Group 1: Board Appointments - The appointments are seen as crucial for guiding the company's next phase, focusing on delivering value to shareholders [2] - Andy Sriubas has extensive experience in commercial strategy and digital transformation, previously serving as chief commercial officer at OUTFRONT Media and has over two decades in investment banking [2][3] - Eileen Tanghal, co-founder of Black Opal Ventures, has a strong background in evaluating and scaling technologies, with previous roles at In-Q-Tel and ARM [3][4] Group 2: Strategic Focus - The company is at a pivotal point in its growth, emphasizing commercialization in the digital manufacturing market [4] - Both new board members bring complementary strengths: Sriubas in commercializing platforms and Tanghal in identifying transformative technologies [4] - The management team, along with a broad array of patents and technologies, positions the company for success in addressing global manufacturing challenges [4][5] Group 3: Industry Context - Nano Dimension operates in advanced digital manufacturing, catering to sectors such as defense, aerospace, automotive, electronics, and medical devices [5] - The company is driven by trends in onshoring, national security, and increasing product customization, enabling rapid deployment of high-mix, low-volume production [5]

Core Viewpoint - Nano Dimension Ltd. is set to discuss its Q1 2025 financial results in a conference call and webcast scheduled for June 12, 2025 [1]. Group 1: Company Overview - Nano Dimension is a leader in Digital Manufacturing solutions, focusing on advanced technologies for various industries including defense, aerospace, automotive, electronics, and medical devices [3]. - The company is driven by trends in onshoring, national security, and increasing product customization, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable practices [3]. Group 2: Event Details - The conference call will take place on June 12, 2025, at 4:30 pm EST, with participants advised to log in at least 10 minutes prior to the call [2][4]. - A replay of the webcast will be available shortly after the conclusion of the call [2].

Business Strategy and Operations - The company has shifted its strategy from acquisitions to improving core business operations, which may face challenges in achieving profitability [46] - The company is reviewing its product groups to align with long-term objectives, which may result in divestments that could disrupt operations and financial condition [47] - The company is focusing on innovative technology with growth potential and will discontinue product groups that do not align with long-term objectives [155] - The company plans to discontinue operations of certain product groups, including Adamtec and Formatec, which were declared bankrupt in April 2025 [157] - The company has made non-binding offers to acquire Stratasys but did not complete the special tender offers due to unmet closing conditions [137] - The company is exploring various options for consolidating its offices as part of the integration of new businesses [215] - The integration of acquired businesses may lead to unforeseen difficulties and require significant management resources, potentially delaying new product introductions [78] Financial Performance and Challenges - The company reported net losses of $96.9 million, $55.7 million, and $228.3 million for the years ended December 31, 2024, 2023, and 2022 respectively, indicating a trend of ongoing financial challenges [73] - Operating loss for the year ended December 31, 2024 was $86,421,000, an improvement from a loss of $124,880,000 in 2023 [227] - Loss for the year increased to $96,923,000 in 2024 from $55,660,000 in 2023, representing a significant increase of approximately 74% [227] - The company faces risks related to liquidity, with $115 million in outstanding convertible notes that could lead to bankruptcy proceedings if not managed effectively [37] - Desktop has significant liabilities, including $115 million in outstanding convertible notes, and lacks the liquidity to satisfy these obligations [80] - The increase in total cost of revenues was primarily due to higher revenues and increased costs related to inventory write-downs following the discontinuation of Fabrica product lines [229] - The decrease in gross profit was primarily attributed to increased inventory write-downs related to discontinued product lines [230] Compliance and Regulatory Risks - The company is subject to stringent compliance requirements under Interim National Security Agreements with the U.S. Government, which may impose operational constraints and require significant resources [52] - The evolving regulatory framework for AI technology may adversely affect the company's operations and increase compliance costs [62] - The company may incur significant compliance costs related to environmental laws governing the import and export of its products [70] - The company must comply with the Israeli Encouragement of Research, Development and Technological Innovation in Industry Law regarding IIA grants, which restricts the transfer of technology outside of Israel [122] Market and Competitive Landscape - The competitive landscape includes a large number of patents and litigation, which could impact the company's market position and financial performance [95] - The company may face challenges in protecting its intellectual property rights globally, especially in jurisdictions with weaker enforcement [97] - The company may face fluctuations in operating results due to various factors, including market acceptance of new products and changes in competitive dynamics [56] - The company is exposed to fluctuations in foreign currency exchange rates, which could impact financial results [67] Intellectual Property and Innovation - The company holds approximately 1,500 patents issued, pending, and allowed worldwide, which is crucial for maintaining its competitive advantage [90] - There are uncertainties regarding the issuance and enforceability of pending patent applications, which could hinder the commercialization of new products [90] - The company is currently evaluating its patent portfolio and considering monetizing or dropping intellectual property that does not protect core technologies [189] - Third-party claims of intellectual property infringement could delay product development and result in substantial damages or the need for costly licensing agreements [93] - The company may incur significant costs and resource diversion due to potential lawsuits to protect or enforce its intellectual property rights [96] Economic and Geopolitical Factors - The U.S. trade tariffs implemented in 2025 could increase import costs and supply chain expenses, potentially reducing profit margins and affecting competitive positioning [48] - The company may face adverse effects on operations due to political, economic, and military instability in Israel, particularly following the October 7, 2023 attacks by Hamas [113] - The company faces risks related to potential boycotts and sanctions against Israel, which could adversely impact business operations [115] Management and Organizational Changes - The company has experienced executive turnover, which could adversely affect business prospects and the ability to execute its new business plan [72] - The company has experienced changes in management, including the appointment of a new Chief Financial Officer, Assaf Zipori, in April 2025 [147] - The company has been subject to shareholder disputes, resulting in changes to the board of directors following a special general shareholders meeting in March 2023 [139] Financial Outlook and Investments - The company does not anticipate paying any dividends in the foreseeable future, as profits will be reinvested in the business [98] - The company may seek additional capital through equity offerings and debt financing, which could dilute existing shareholders' ownership interests [127] - Net cash used in investing activities for 2022 and 2023 was ($67.67 million) and ($166.6 million) respectively, with a positive cash flow of $140.05 million expected in 2024 [153] Research and Development - Research and development expenses totaled $37.2 million in 2024, down from $62.0 million in 2023, reflecting a decrease of approximately 40% [200] - The company expects research and development expenses to increase in the foreseeable future due to a larger R&D organization following recent acquisitions [200]

Financial Data and Key Metrics Changes - Revenue for 2024 reached $57.8 million, an increase of 2.6% year-over-year [12] - Adjusted EBITDA loss improved by 35% to $65.2 million, and net cash burn declined by a factor of 3.6, excluding the impact of the buyback [13] - The company finished the year with $845 million in cash, cash equivalents, and marketable securities [13] - Preliminary Q1 2025 revenue was $14.4 million, which is 8% higher than Q1 2023 [13] Business Line Data and Key Metrics Changes - The company exited non-core products to focus on high-performance, high-value parts [8] - Operating expenses were reduced by over $20 million annually from the organic Nano business [8][22] - Revenue per employee increased from $147,000 to $223,000, a 52% gain for the core business [22] Market Data and Key Metrics Changes - Despite a Purchasing Managers Index (PMI) below 50, indicating a bearish macro environment, the company posted positive sales growth [14] - The ongoing trade challenges are enhancing demand trends that the company is well-positioned to meet [7] Company Strategy and Development Direction - The company is focused on disciplined execution and long-term value creation, emphasizing capital discipline and product viability [11][17] - The strategic framework includes assessing, transforming, investing, and growing, with a focus on profitable ROI-driven growth [19] - The company aims to lead in digital manufacturing, targeting key sectors such as aerospace, defense, automotive, electronics, and medical [28][30] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of restoring trust with shareholders and maintaining transparency [47][49] - The company is optimistic about its technologies and future prospects, focusing on deeper penetration into existing customer bases [50] - Management acknowledged the challenges faced by Desktop Metal and emphasized a strategic review of that investment [24][61] Other Important Information - The company has made significant changes in leadership and strategy to address shareholder demands for change [7][10] - The management team is committed to disciplined forecasting and capital allocation, ensuring that every investment is justified [17] Q&A Session Summary Question: Focus on growth or profitability? - Management emphasized the need to balance growth and profitability, focusing on technologies that solve problems and have future potential [33][34] Question: Advantages in digital manufacturing? - Management highlighted the importance of software as a key differentiator in the industry, with opportunities to leverage existing software platforms [36][37] Question: Synergies with Markforged? - Management did not provide specific financial numbers on synergies but noted significant organizational synergies to be achieved [39][40] Question: Share price concerns and investor excitement? - Management acknowledged the need to restore trust and transparency with shareholders, focusing on clear milestones and improved organizational efficiency [45][49] Question: Repeat business from large customers? - Management indicated a focus on deeper penetration with existing customers and leveraging the installed base from Markforged to grow the business [51] Question: Discontinued businesses and divestment? - Management explored divestment opportunities for discontinued businesses but found no viable options, leading to their discontinuation [52]

Financial Data and Key Metrics Changes - Revenue for 2024 reached $57.8 million, an increase of 2.6% year-over-year [11] - Adjusted EBITDA loss improved by 35% to $65.2 million [12] - Net cash burn declined by a factor of 3.6, excluding the impact of the buyback [12] - Cash, cash equivalents, and marketable securities totaled $845 million at year-end [12] - Preliminary Q1 2025 revenue was $14.4 million, which is 8% higher than Q1 2023 [12] Business Line Data and Key Metrics Changes - The company exited non-core products to focus on high-performance, high-value parts [8] - Operating expenses were reduced by over $20 million annually from the organic Nano business [8][21] - Revenue per employee increased from $147,000 to $223,000, a 52% gain for the core business [21] Market Data and Key Metrics Changes - Despite a Purchasing Managers Index (PMI) below 50, indicating a bearish macro environment, the company posted positive sales growth [13] - The company is well-positioned to assist manufacturers in adapting to global trade policy changes [14] Company Strategy and Development Direction - The company aims to produce high-value, high-performance components with significant growth potential [7] - A disciplined approach to capital allocation and cost management is emphasized, with a focus on profitable growth [16] - The strategic framework includes assessing, transforming, investing, and growing, with a focus on competitive advantage and category leadership [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the need to restore trust with shareholders and emphasizes transparency and clear milestones [46][48] - The company is optimistic about its technologies and future prospects, focusing on deeper penetration into existing customer bases [50] - Management is committed to maintaining financial strength while exploring strategic alternatives for Desktop Metal [24][60] Other Important Information - The company has undergone significant leadership changes and is focused on disciplined execution and long-term value creation [4][10] - The acquisition of Desktop Metal involved a payment of nearly $180 million, and the company is currently evaluating this investment [23] Q&A Session Summary Question: Focus on growth or profitability? - Management emphasizes the need to balance growth and profitability, focusing on technologies that solve problems and have future potential [33][34] Question: Advantages in digital manufacturing? - Management highlights the importance of software as a key differentiator in the digital manufacturing space [36] Question: Synergies with Markforged? - Management is exploring organizational synergies but is not ready to provide financial numbers at this time [39] Question: Share price concerns and investor excitement? - Management acknowledges the need to restore trust and transparency with shareholders to improve share price [44][46] Question: Repeat business from large customers? - Management is focused on deeper penetration into existing customer bases and leveraging relationships from Markforged's installed systems [50] Question: Discontinued businesses and divestment? - Management explored divestment opportunities but found no viable options, leading to the decision to discontinue non-core businesses [51]

2024 Results and 2025 Outlook: A Point of Transformation April 2025 Disclaimer Cautionary Note Regarding Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding Nano's future growth, strategic plan and value to shareholders, Desktop Metal's strategic review process, and all other statements other than statements of historical fact that address acti ...

Core Insights - Nano Dimension aims to position itself as a leader in digital manufacturing, focusing on advanced industrial solutions amidst global trade and production realignment [6][10][20] - The company has outlined a disciplined strategy emphasizing capital strength and profitable growth following recent acquisitions [1][2][4] Financial Performance - For FY 2024, Nano Dimension reported revenues of $57.8 million, a 3% increase year-over-year, with Q4 2024 revenues at $14.6 million, up 1% year-over-year [16][18] - The gross margin for FY 2024 was 43%, down 194 basis points from the previous year, while the adjusted gross margin was 46%, down 269 basis points [16] - The net loss for FY 2024 was $95.9 million, or $0.44 per share, compared to a loss of $54.6 million, or $0.22 per share, in FY 2023 [24][28] Strategic Initiatives - The company has restructured its product portfolio, focusing on Additively Manufactured Electronics (AME) and surface-mount technology (SMT), while discontinuing non-core products [11][12] - A significant reduction in annualized operating expenses of over $20 million was achieved, with revenue per employee increasing from $147,000 to $223,000, a 52% gain [11][12] - The management team emphasizes clarity and trust with investors, committing to provide timely updates on strategic reviews of acquired companies [14] Operational Focus - Nano Dimension is implementing a playbook that includes assessing product offerings and optimizing the operating model to enhance customer alignment and reduce overhead [7][9] - The company is leveraging partnerships with leading industrial firms to enhance its capabilities in manufacturing complex parts at scale [10] Market Context - The digital manufacturing sector is experiencing a significant transformation driven by trends such as re-shoring, supply chain resilience, and sustainability [6][20] - Nano Dimension's focus on advanced manufacturing technologies positions it to capitalize on these market shifts [20]